Scotts Miracle-Gro (NYSE:SMG) Rating Increased to Buy at Wall Street Zen

Scotts Miracle-Gro (NYSE:SMG) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other equities analysts have also commented on SMG. JPMorgan Chase & Co. lowered shares of Scotts Miracle-Gro from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $70.00 to $67.00 in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Scotts Miracle-Gro in a report on Monday, May 4th. Stifel Nicolaus cut their target price on shares of Scotts Miracle-Gro from $76.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, June 8th. UBS Group reissued a “neutral” rating on shares of Scotts Miracle-Gro in a report on Tuesday, June 23rd. Finally, Wells Fargo & Company reduced their target price on Scotts Miracle-Gro from $75.00 to $72.00 and set an “overweight” rating on the stock in a report on Wednesday, April 8th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Scotts Miracle-Gro presently has an average rating of “Moderate Buy” and a consensus price target of $72.67.

Scotts Miracle-Gro Stock Performance

Shares of NYSE SMG opened at $68.86 on Friday. Scotts Miracle-Gro has a 52-week low of $52.00 and a 52-week high of $72.35. The business has a fifty day moving average of $62.03 and a two-hundred day moving average of $62.99. The stock has a market cap of $4.01 billion, a PE ratio of 38.47 and a beta of 1.81.

Scotts Miracle-Gro (NYSE:SMG) last posted its earnings results on Wednesday, April 29th. The basic materials company reported $4.53 earnings per share for the quarter, topping the consensus estimate of $3.97 by $0.56. Scotts Miracle-Gro had a net margin of 3.27% and a negative return on equity of 79.61%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the firm earned $3.98 EPS. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. Analysts predict that Scotts Miracle-Gro will post 4.3 earnings per share for the current year.

Institutional Investors Weigh In On Scotts Miracle-Gro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMG. Cassaday & Co Wealth Management LLC bought a new position in shares of Scotts Miracle-Gro in the first quarter worth about $26,000. Key Capital Management INC bought a new stake in shares of Scotts Miracle-Gro during the fourth quarter valued at approximately $29,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Scotts Miracle-Gro during the third quarter valued at approximately $32,000. SBI Securities Co. Ltd. increased its holdings in shares of Scotts Miracle-Gro by 127.9% in the fourth quarter. SBI Securities Co. Ltd. now owns 889 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 499 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Scotts Miracle-Gro in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 74.07% of the company’s stock.

About Scotts Miracle-Gro

Scotts Miracle-Gro Company is a leading developer, manufacturer and distributor of consumer lawn and garden products. The firm serves both retail and professional customers through an array of branded offerings that include lawn fertilizers, grass seed, pest and disease control solutions, plant foods and specialty products for indoor and outdoor gardening. Its portfolio spans well-known names such as Scotts®, Miracle-Gro®, Ortho® and various hydroponic and specialty garden brands.

Headquartered in Marysville, Ohio, the company traces its roots to O.M.